The Consumer Financial Protection Bureau’s (CFPB) continued and expanded reliance on its sweeping authority to prohibit unfair, deceptive, and abusive acts or practices (UDAAP) continues to command the attention of financial...more

A California judge approved a $68.5 million settlement yesterday to resolve allegations that Office Depot violated the California False Claims Act (CFCA) by overcharging California public entities for office and classroom...more

Last Thursday, former UNC football player Michael McAdoo filed a putative class action against UNC-Chapel Hill. This federal complaint has already received extensive publicity. The publicity, though, has overlooked the...more

In Coventry University v Mian [2014] EWCA Civ 1275, the Court of Appeal considered whether an employer had breached its duty of care by commencing disciplinary action against an employee on the basis of a preliminary, rather...more

Last week, Alabama Governor Robert Bentley removed Alabama State University Trustee Marvin Wiggins for violating the University’s conflict of interest rules. The removal proved once again that if you are responsible for the...more

On July 8, 2014, the SEC announced that it had settled charges that a school district in California misled bond investors about its failure to comply with its continuing disclosure obligations under Rule 15c2-12 of the...more

Yesterday, the Securities and Exchange Commission (SEC) announced its first cease and desist order under its Municipalities Continuing Disclosure Cooperation Initiative (MCDC Initiative). The MCDC Initiative was introduced on...more

Institutions regulated by the Consumer Financial Protection Bureau (CFPB) and subject to its enforcement authority are dealing with of the agency’s sweeping authority to prohibit unfair, deceptive, and abusive acts or...more

In Brief
- Stevens-Henager College and its owners are accused of offering compensation incentives to admission consultants based on the number of students they recruit.
- The government alleges that the college...more

The U.S. Securities and Exchange Commission recently charged a Chicago charter school operator with defrauding investors in a $37.5 million bond offering by failing to disclose transactions that presented conflicts of...more

The Illinois Attorney General, who filed suit two years ago under the Illinois Consumer Fraud and Deceptive Business Practices Act against a group of entities related to for-profit college financing, amended its complaint to...more

Earlier this month, an Illinois state court granted the motion of the state’s Attorney General to further amend her complaint in a lawsuit filed against a for-profit college and its owners to add new counts alleging that the...more

In a continued effort by federal and state legislators to curb alleged abuse by financial institutions on college campuses, several members of Congress sent a letter to the Department of Education expressing their support for...more

Lisa Madigan, Illinois Attorney General, recently filed a motion in a state court lawsuit against a for-profit college and its owners and operators seeking leave to further amend her complaint to add new counts alleging that...more

ITT Educational Services, the defendant in the CFPB’s first enforcement action against a for-profit education company, has filed a motion seeking dismissal of the CFPB’s complaint. Filed this past February in an Indiana...more

Our attention on the NCAA college basketball tournament was temporarily diverted by the non-courtside drama that played out this week when the University of South Florida revoked its head coaching offer to Steve Masiello...more

The Illinois Supreme Court recently issued a decision in Gillespie Community Unit School District No. 7 v. Wight & Company that upholds the dismissal of the District’s claim of fraudulent misrepresentation against its...more

In a lawsuit arising out of a well-publicized incident in West Michigan, Agema v. City of Allegan involved a lawsuit by former Michigan State Representative David Agema and others against the City of Allegan and others...more

The First Circuit Court of Appeals recently held that a “Known Circumstances Exclusion” in an insured school’s D&O policy barred coverage for an underlying action involving misrepresentations in soliciting a donation....more

In its recent decision in Clark School for Creative Learning, Inc. v. Philadelphia Indemnity Ins. Co., 2013 U.S. App. LEXIS 21568 (1st Cir. Oct. 23, 2013), the United States Court of Appeals for the First Circuit, applying...more

Last week, the California Attorney General Kamala D. Harris announced that she had filed a complaint for civil penalties, permanent injunction and other equitable relief against Corinthian Colleges and three of its school...more

On July 29, 2013, the SEC entered a pair of Cease and Desist Orders against West Clark Community Schools (the “School District”) and Citi Securities, the underwriter of certain municipal bonds issued by the School District...more

On July 29, 2013, the Securities and Exchange Commission announced that it had charged an Indiana school district and its underwriter with securities fraud for falsely stating in a 2007 offering document that the issuer was...more

This week we look at the 7th Circuit's decision in Leveski v. ITT Educational Services, Inc., in which the court reinstated a False Claims Act qui tam action against ITT and removed the imposition of $395,000 in sanctions...more